Daniel Loeb

Daniel Loeb

Last Update: 09-30-2016

Number of Stocks: 41
Number of New Stocks: 18

Total Value: $10,492 Mil
Q/Q Turnover: 24%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Daniel Loeb Watch

  • Arnold Schneider's Best-Performing Stocks

    Arnold Schneider is president, chief investment officer and principal of Schneider Capital Management Corp. He manages a portfolio composed of 68 stocks with a value of $534 million. The following are the best performers of his investments.

    Marathon Oil Corp. (MRO) with a market cap of $12.01 billion has gained 17.0% year to date. Schneider's stake represents 0.11% of the company's outstanding shares and 2.66% of his total assets.


  • 21 Questions With Michael Zapata of Sententia Capital Management

    1. How and why did you get started investing? What is your background?

    Much of my experience with finance and investing is self-taught as I grew up in humble beginnings. The first lesson I learned was to work hard and divide the first part of your paycheck to tithes and savings. For investing, the first spark came in the fifth grade through a stock pick competition. I remember picking Xerox (NYSE:XRX) for one of my three stocks because the school had a bunch of Xerox machines. That one pick propelled me to the top percentage of my school's region. Granted, I had no idea what I was doing, but that experience would stick with me.


  • Daniel Loeb Expands Position in Enphase Energy

    Daniel Loeb (Trades, Portfolio) of Third Point LLC increased his position in Enphase Energy Inc. (NASDAQ:ENPH) by 7.33% on Sept. 28.

    Loeb founded Third Point LLC in 1995 and serves as CEO and portfolio manager. Loeb and his firm are activist investors, meaning they take an active position in a company and pressure management for change. They follow an event-driven, value-oriented investment style.


  • 20 Questions With Mark Spiegel of Stanphyl Capital Management

    How and why did you get started investing? What is your background?

    I always had a casual interest in the stock market, going back to high school in the late 70s when I opened an account at a local broker and bought a stock about which I knew little except that the New York Times stock tables said it had a really low PE ratio-- I think it was 4, or something like that. It was an Amex-listed company called Outdoor Sports International (the ticker was OSI) and I think it wound up getting bought out, thereby maybe doubling the $200 or so I put into it. (I had no real idea what I was doing-- it was just semi-dumb luck!) Then in my senior year of high school I worked part time in the local Paine Webber office doing clerical work for one of the brokers-- basically, just helping him keep track of his customers' trades. In college though I mostly lost touch with stocks and when I graduated I wound up spending 17 years as a commercial and industrial real estate broker in the "outer boroughs" (Queens, Brooklyn and the Bronx) of New York City. I didn't realize it at the time, but working with a lot of different kinds of businesses actually turned into terrific "real world experience" for when I later became an investment banker and then a full-time investor. In the late 90s-- while I was still in the real estate business-- stocks were going crazy and my interest in them was rekindled. I wound up making a nice chunk of money buying low-PE microcap "value tech" stocks before they really took off like their big-cap brethren, while simultaneously losing some money shorting several of the bubble stocks because I didn't have the experience and fortitude to stick with them before they collapsed. However, on a net basis I'd made good money on the long side (and kept it-- I sold what at the time seemed to be "too early" but in fact was only "months" too early) and decided in January 2000 to sell my half of my real estate company to my partner to try to invest full-time. (Talk about top-ticking the market, and not in a good way!) I then spent a couple of years teaching myself a lot more about finance, studying scores of accounting and financial analysis textbooks, books about Wall Street history, etc. I then paid the most useful (and expensive!) stock market tuition possible: I fell in love with a microcap tech story-stock, rolled almost all of my previous profits into it and went to work for the company in a sales & marketing position. Well, being "inside" a story-stock and comparing that experience with its simultaneous press releases and earnings conference calls was one of the most valuable experiences an investor can have! After spending a year there I sold the stock at a huge loss, left the company (the product failed and most of the sales staff was laid off anyway), and decided that with a combination of my real-world business knowledge (from my commercial real estate days), book knowledge (from all the financial textbooks and history books I'd read) and story-stock knowledge (the experience I just related), I was ready to actually get a real job on Wall Street. However, this was 2003 and NO ONE was hiring, especially a 42 year-old guy with no previous jobs on the Street. Fortunately, one young guy running the New York office of a tiny investment bank saw my resume and was intrigued by the commercial real estate experience. He figured "This guy helped CEOs find their offices and warehouses and we help CEOs find their money, so if he can relate to CEOs one way he can relate to them other ways too." So he hired me on an "eat what I kill" basis (i.e., I'd get a percentage of the banking fees I brought in) and sponsored me for my Series 7 & 63 licenses, and I was off and running, cold-calling companies. I got a few deals done and simultaneously started investing again, mostly in microcaps but this time-- thanks to my own experience-- with a much better "smell detector," lol. My portfolio grew nicely and then in 2006 I went to a larger investment bank and had enough success there that I was recruited to a still larger bank in late 2007. All this time I was investing my own portfolio (even within the somewhat restricted confines of the various i-banks personal trading policies) and in 2009 I left my last i-bank to invest full-time, but this time with the goal of using my accumulated experience to open a hedge fund. I had really good returns in my personal account from 2005 through 2011 and had them audited to use as part of my fund marketing materials, and then in 2011 I opened Stanphyl.


  • Yum Brands Agrees to Sell Part of China Business

    Yum Brands (NYSE:YUM), the owner of KFC and Pizza Hut, has entered into a deal with Primavera Capital and an affiliate of Alibaba Group (NYSE:BABA) to sell a part of its Chinese operations as the American restaurant giant plans to spin off its China business.

    Primavera Capital, together with Ant Financial Services, will acquire a collective stake of $460 million in Yum Brand China.


  • Railroad Companies Offer High Margin Potential

    As of Sept. 21, several companies in the railroad industry have an efficient business operation. Two companies, Canada Pacific Railway Ltd. (NYSE:CP) and Union Pacific Corp. (NYSE:UNP), have a selling, general & administrative expense to gross profit ratio of about 30%, which suggests durable competitive advantage. With low SGA expenses, these companies have potential for high profit margins.

    The efficiency ratio


  • Medical Companies Offer Good Value Opportunities

    Due to the great financial crisis, most companies were undervalued based on their valuations. Based on backtesting results, the “Peter Lynch Growth with Lower Valuation” test portfolio took positions in Baxter International Inc. (NYSE:BAX) and Abbott Laboratories (NYSE:ABT), two medical companies that reached historically low price-earnings ratios. While these companies presented good value opportunities from 2007-2011, other medical companies provide better opportunities in 2016.

    Brief introduction of Peter Lynch


  • Daniel Loeb Exits Amgen, Trims Dow Chemical

    Daniel Loeb (Trades, Portfolio) founded Third Point LLC in 1995 and leads the firm’s research activities, portfolio and risk management. During the second quarter the guru's largest sales were as follows:

    The guru exited his stake in Amgen Inc. (AMGN) with an impact of -4.14% on the portfolio.


  • Carl Icahn Buys Allergan

    During the second quarter, Carl Icahn (Trades, Portfolio) of Icahn Capital Management acquired a new holding in Allergan PLC (NYSE:AGN).

    Icahn is an activist investor, meaning he takes a position in a company and pressures management for change. Typically, he buys companies with low favorability, usually right out of bankruptcy, fixes them up and sells them when the stock is more favorable.


  • Daniel Loeb Goes 2 for 2 in Online Media Companies

    Founded in 1995, Third Point LLC seeks long-term capital appreciation through “event-driven, value-oriented investing.” As discussed in its prospectus, Daniel Loeb (Trades, Portfolio) invests in companies that are undervalued, or mispriced, based on market and relative valuation analysis. During the second quarter, the CEO made four trades in the online media and communications industries: two news buys, one reduction and one elimination.

    Loeb purchased 3.75 million shares of Facebook Inc. (NASDAQ:FB) at an average price of $115.23 per share. The social networking company currently has a financial strength rank of 9, implying a strong business operation. As mentioned in an earlier article, Facebook has high Piotroski F-scores and Altman Z-scores. With a current Z-score of 41.73, Facebook has almost no distress.


  • Daniel Loeb Discloses Stake in Convicted Inside Trader's Kadmon Holdings

    Third Point’s Daniel Loeb (Trades, Portfolio) today disclosed a stake in Kadmon Holdings (NYSE:KDMN), a biopharmaceutical company that went public on July 26. The company has a famous founder, Sam Waksal, who also created ImClone before his involvement in insider trading led to SEC restrictions and prison.

    As of Monday, Loeb has reported owning 17% or 7,611,844 shares of the company, according to Real Time Picks, though he has both recent interest and a long history with it. In its pre-IPO prospectus, Loeb is listed as 13.6% owner with 6,113,020 shares, consisting of common and convertible membership units, as one of its biggest investors. Yet his investment dates back even further, to at least April, when Kadmon converted from a limited liability company to prepare for an IPO, according to filings. The company did go public, for $12 a share, and Loeb took advantage of its post-IPO dip to buy 66,828 shares on the public market on Aug. 4-5 at prices around $9.90.


  • John Linehan Trims Stake in Chubb

    During the second quarter John Linehan of the T Rowe Price Equity Income Fund reduced the fund's stake in Chubb (CB) at an average price of $123.26. The trade had a 0.09% impact on the portfolio. The fund now owns 319,600 shares in the company.



  • Daniel Loeb's Third Point 2nd-Quarter 2016 Investor Letter

    Review and Outlook


  • Daniel Loeb Beats Market But Stocks Down

    Third Point investor Daniel Loeb (Trades, Portfolio) posted a higher return than the S&P 500 index in June, saved from negative performance by gains in his bond portfolio.

    Loeb’s Third Point Offshore Fund returned 0.8% for the month, compared to 0.3% for the index. It was the third month this year he outperformed the market, but the fund is still falling short for the year through June 30, gaining 2.1% with the index up 3.8%. Loeb’s returns have been on an upswing for the past four months, with credit boosting returns since March while long positions struggled.


  • Richard Perry Trims Time Warner, AIG

    Richard Perry (Trades, Portfolio) co-founded private investment management firm Perry Capital LLC in 1988, which manages about $14 billion as of August 2008. The following are his largest deals during the first quarter:

    The investor exited his stake in Williams Companies Inc. (WMB) with an impact of -10.02% on the portfolio.


  • Daniel Loeb Invests in Intercontinental Exchange

    During the first quarter Daniel Loeb (Trades, Portfolio) purchased 225,000 shares of Intercontinental Exchange Inc. (NYSE:ICE) at an average price of $243.36 per share.

    IntercontinentalExchange Group was originally founded in the year 2000 but changed its name to Intercontinental Exchange on June 2, 2014. The company operates regulated global marketplaces for trading and clearing an array of securities and derivatives contracts across major asset classes including interest rates, equities, equity derivatives, credit derivatives, and bonds. The company exchanges include futures in the U.S., U.K., continental Europe, Canada and Singapore and cash equities exchange and equity options exchanges in the U.S.


  • Is Seasonal Investing the Best Way to Approach the Market?

    What happens when the markets stop making sense? How do you even begin to analyze which stocks to invest in?

    Over the last two years, markets have defied conventional theories, rallied even when the global economies appeared to be struggling and in the process managed to sway several investors into believing that everything was on a roll.


  • Daniel Loeb Comments on Danaher

    Danaher (DHR) is a diversified multi-industrial company with an increasing exposure to life science and healthcare-oriented businesses. Operating across five different business segments and built up through over 400 acquisitions over the company’s history, the cornerstone for Danaher’s successful integration and value creation strategy has been the

    Danaher Business System (DBS). Adapted from Japanese principles of kaizen, DBS has evolved into a set of processes and corporate culture revolving around continuous improvement, helping to drive organic growth and annual margin improvement across Danaher’s portfolio.


  • Daniel Loeb Comments on Chubb Ltd.

    Chubb Ltd. (CB) is the product of ACE Limited’s acquisition of The Chubb Corporation which closed in January. The deal combined two world-class operators that have consistently put up ~90% combined ratios – almost 900bps better than North American peers – and have compounded book value at 10%+ the past decade, more than double that of peers. The new Chubb is the largest public pure-play P&C company by underwriting income. It also has a number of factors we look for in a pro forma situation: an A+ CEO in Evan Greenberg; complementary fit across products, distribution, and geography; and a plan that is less focused on short-term cost savings than long-term strategic opportunities for growth, which are abundant.

    Chubb’s scale and focus on growth could not come at a better time as certain competitors scale back operations to satisfy shareholder demands. We are willing to forego short-term cost cuts or buybacks to own a franchise that is a long-term winner with the premier franchise in US high-net-worth insurance, #1 share in global professional lines, and an enviable global platform with leading A&H and personal lines in Asia and Latin America. We view Chubb as a high-quality compounder in the financials space, with double-digit earnings growth potential over the next few years. Critically, this earnings power is far less sensitive to rates and credit quality than fundamental execution.


  • Daniel Loeb Comments on Charter Communications

    Charter Communications (CHTR) is a domestic provider of voice, video, and high-speed data. In May 2015, Charter announced the acquisition of Time Warner Cable. This is a transformational deal that quadruples the company’s scale while driving substantial operating efficiencies. Importantly, the pro forma company will be led by Charter’s current CEO, Tom Rutledge, who we view as one of the best operators in the industry.

    New Charter is well positioned to capture market share from satellite and telco competitors given its advantaged high-speed data product. In addition, Mr. Rutledge’s track record of boosting video penetration, driving down service costs, and executing large network transformations at legacy Charter makes us optimistic about his leadership of the new entity.


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